Transaction system and method

Abstract

A secure monetary system comprises an electronic module and equipment to access the electronic module. The electronic module comprising a substantially token-shaped module and secure memory circuitry to store monetary information. The secure memory positioned in the substantially token-shaped module. The equipment accesses and manipulates the monetary information stored in the memory in the electronic module. The equipment comprises memory to store control and encryption programs and the memory is coupled to a microprocessor, which is also coupled to the electronic module and a control panel. The microprocessor is secure.

We claim: 
     
       1. A transaction system, comprising: (a) means for storing value information;   (b) means for manipulating said value information; and   (c) means for interfacing said value information storing means with said manipulating means, wherein said value information storing means comprises:   (a1) an electronic data module with a first conductive surface and a second conductive surface, said first and second conductive surfaces being electrically isolated from each other by an insulator and forming a cavity;   (a2) electronic circuitry disposed within said cavity, said electronic circuitry including a plurality of one-way alterable memory locations, each of said plurality of one-way alterable memory locations representing a unit of said value information.   
     
     
       2. A transaction system, comprising: (a) means for storing value information;   (b) means for manipulating said value information; and   (c) means for interfacing, said value information storing means with said manipulating means, wherein said interfacing means comprises a probe having a first and a second conductive contact, said probe being electrically connectable to said manipulating means, further wherein said first conductive contact of said probe is a single wire axially disposed within an enclosure formed by said second conductive contact of said probe.   
     
     
       3. A method for effectuating a transaction operation in an electronic transaction system, which system is of the type including a point-of-use terminal and an electronic data module having a plurality of one-way alterable memory locations, comprising the steps of: (a) crediting a first amount of value to said electronic data module by altering a first sub-plurality of said one-way alterable memory locations, starting from the least significant location of said plurality of one-way alterable memory locations;   (b) presenting said electronic data module to said point-of-use terminal for obtaining at least one of a service or a good;   (c) dispensing said at least one of a service or a good if said first amount of value of value is greater than or equal to a pre-determined value corresponding to said at least one of a service or a good; and   (e) debiting a second amount of value from said electronic data module, said second amount of value corresponding to said pre-determined value, said debiting being performed by altering a second sub-plurality of said one-way alterable memory locations, starting from the most significant location of said plurality of one-way alterable memory locations.   
     
     
       4. The method as recited in claim 3, wherein said crediting step further comprises encrypting said first sub-plurality of said one-way alterable memory locations. 
     
     
       5. The method as recited in claim 3, wherein said debiting step further comprises encrypting said second sub-plurality of said one-way alterable memory locations. 
     
     
       6. A transaction system comprising: a point-of-use terminal for effectuating a transaction, said transaction comprising dispensing at least one of a service or a good; and   an electronic data module having storage means for storing value information, said storage means including a plurality of one-way alterable memory locations,   wherein when said electronic data module is presented to said point-of-use terminal for effectuating said transaction, said value information is debited after successfully completing said transaction by altering a sub-group of said plurality of one-way alterable memory locations, staring from the most significant location of said plurality of one-way alterable memory locations.   
     
     
       7. The transaction system as recited in claim 6, wherein said service comprises dispensing a postage stamp. 
     
     
       8. The transaction system as recited in claim 6, wherein said service comprises dispensing a fare ticket for travel. 
     
     
       9. The transaction system as recited in claim 6, wherein said service comprises dispensing a ride ticket at an amusement park. 
     
     
       10. The transaction system as recited in claim 6, wherein said service comprises dispensing a meal ticket at an eatery. 
     
     
       11. The transaction system as recited in claim 6, wherein said point-of-use terminal comprises: a probe for receiving and interfacing with said electronic data module; and   means for manipulating value information received from said electronic data module, said means being operably coupled to said probe.   
     
     
       12. The transaction system as recited in claim 11, wherein said manipulating means further comprises means for encrypting said sub-group of said plurality of one-way alterable memory locations. 
     
     
       13. A transaction system comprising: a point-of-use terminal for effectuating a transaction; and   an electronic data module having storage means for monetary equivalent data, said storage means including a plurality of one-way alterable memory locations, each of said plurality of one-way alterable memory locations representing a pre-determined unit of said monetary equivalent data,   wherein when said electronic data module is presented to said point-of-use terminal for effectuating said transaction, said transaction comprises at least one of incrementing said monetary equivalent data upon presenting money to said point-of-use terminal and decrementing said monetary equivalent data upon successfully receiving at least one of a good or a service from said point-of-use terminal.   
     
     
       14. The transaction system as recited in claim 13, wherein said incrementing comprises altering a first sub-group of said plurality of one-way alterable memory locations, starting from the least significant memory location. 
     
     
       15. The transaction system as recited in claim 14, wherein said decrementing comprises altering a second sub-group of said plurality of one-way alterable memory locations, starting from the most significant memory location. 
     
     
       16. The transaction system as recited in claim 15, wherein said first sub-group of said plurality of one-way alterable memory locations is encrypted. 
     
     
       17. The transaction system as recited in claim 15, wherein said second sub-group of said plurality of one-way alterable memory locations is encrypted. 
     
     
       18. The transaction system as recited in 13, wherein said point-of-use terminal comprises: a probe for receiving and interfacing with said electronic data module; and   means for manipulating said monetary equivalent data received from said electronic data module, said means being operably coupled to said probe.